Young American collectors buy wine to drink, not just to invest

It's often said that wine isn't among the desires and interests of younger generations, and this is cited as one of the main reasons for the decline in consumption. However, the allure of wine is attracting young collectors, at least the wealthier ones. They don't just collect; they also consider drinking it a fundamental part of the experience.

Chubb, a major US insurance company, published the results of a study on young collectors of luxury goods in the US. 78% of these affluent Americans consider the future value of an item a determining factor in their purchases. The survey found that collecting is not a passing hobby for them, but a long-term, investment-oriented activity: 47% of wine collectors say they have been collecting for at least five years, and 21% for at least a decade.

Their motivations also include personal pleasure, status, prestige, and emotional connection. Regarding wine, 45% collect it for status, prestige, and to expand their knowledge, but 81% also actively consume the wines in their collection, a level of engagement and enjoyment higher than in any other category.

Overall, 38% of the sample reported collecting wine, and 26% cited the influence of a parent, close relative, or partner as a determining factor. The three main purchasing channels are retailers, auction houses, and online platforms.

The report, titled "The New Era of Luxury Collecting and Investing," surveyed 1,000 affluent Americans, nicknamed "Henrys" ("high income, not yet rich"), aged 20 to 45. Eighty-eight percent have an annual income between $300,000 and $750,000 and actively collect luxury items such as watches, jewelry, art, antiques, wines, and sports memorabilia.

The study sought to understand collectors' motivations, purchasing behaviors, and attitudes toward protecting high-value items. Across all categories analyzed, 43% of collections were valued between $10,000 and $50,000, 14% between $50,000 and $100,000, and 5% at over $100,000.